Know your Homeowner’s insurance exclusions before you have a claim.

 

In late January of this year there was a major sinkhole in the Glenside area.  You may have read about it or saw it on the news.  The sink hole swallowed up a pickup truck and may have damaged the foundations of two homes.  The investigation is still going on to find the cause.

If the foundation on your home was damaged and the house condemned would your homeowner’s policy cover the loss?  Probably not.  Most homeowner’s insurance policies have exclusions.  You need to read the policy and be aware of the exclusions.

One of the exclusions is “Earth Movement.”  Earth Movement can be an earthquake, sinkhole, landslide and mudslide among other things and all are excluded from most homeowner’s policies.  You can add back some of these coverages by endorsement however most people don’t due to the cost.

There are other exclusions on your homeowner’s policy. Some of them include: Flood, Ordinance or Law, nuclear hazard and war.

It is impossible to cover everything that could happen to your home but you need to be aware that you may be able to buy back coverage that is excluded for an additional premium. Whether that makes sense is up to you.

You may not even be aware that you are in an area with these risks. Contact us today at 215-885-2200 to discuss the exclusions.  Don’t be caught short when you have a claim.

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